Sunday, December 01, 2013

Bubbles Chronicles: Bill Still Is Pumping Quark vs Bitcoin - Collapse Is Near

All world has gone mad: Bill Still is pumping Quark! Just watch this video and remember how the Bubble stage looks like and what are the arguments presented to buy something "which definitely will go up." We must be very close to the Bitcoin final parabolic rise before the Crash. If Bill Still can not withstand the plot to get fast rich scheme, what can we tell about the other people?

It is very interesting that Bill talks about another 30 crypto-currencies and there are at least 100 else are in existence. Why on Earth to buy Bitcoin at $1200 if you can buy "the better" Quark, which was pumped by Bill Still only to 4.5 cents by now (more then 2000% as Bill proudly has noted!?). Just Sell you Bitcoin now and move down the food chain - "it will be a sure thing: all crypto-currencies will go up once Chinese will be able to buy it, particularly after the Bitcoin will be Crashed."

It looks like we have found finally our own youth portion and will spread our bets evenly among all 100 crypto-currencies, with this kind of sure gains how can we lose anyway? Can you imaging if India will join this crazy feast, what about Malaysia? You can monitor some of those Crypto-Currencies here: Crypto-Currency Market Capitalisation. Junkcoin is not doing well - must be something with its name ... all others are "solid investments".

Can somebody tell Obama to put NSA to proper work finally? Just make the super duper NSAcoin with triple encryption, warranted from Spying and accepted for Tax payments and let Obama to Pump it a little bit ... 17 Trillion in Debt will be repaid very soon - at least we will have better roads and bridges. Can we get into this one as well at the start of Pumping?

"Gary North presents a very good explanation of the Bitcoin Bubble from the Austrian Economics point of view on the Money. We decided to present this RT video as well so that you can hear Bitcoin advocates as well. Unfortunately Bitcoin's parabolic rise is the most dangerous event for its future. It supposed to challenge the System - at least the FED power in the U.S. How serious is it for the System? It is Everything. All markets are at the mercy of the Fed now. Can we be certain that after 100 Year War Against Gold, FED will find resources to Crash Bitcoin and any idea about viable Currency Alternatives with it?

We have a feeling that this recent exorbitant rise in Bitcoin is purely manipulated. One thing if it is the Insiders - holders of largest number of Bitcoin amounts are gaming the rest of the market with OTC Pump and Dump style. They are trading "the restricted" amount of Bitcoin by driving the price up and will start the distribution to the crowd once liquidity will allow it. Quite another thing if the System is already defending itself. With Bitcoin's "market cap" of 13 Billion even after recent parabolic rise to $1200, FED can easily accumulate enough amount of Bitcoin to drive the price up and then Crash it into the ground.

We do hope that it is not the case and Bitcoin will be able to stabilise somehow to preserve the brilliant idea, but with every parabolic move up in the price we are getting closer to the crash now."

"It is very important video to watch for everybody chasing Bitcoin right now. Bitcoin Foundation general counsel warns: "Everybody who buys Bitcoin right now should expect to lose everything". It does not mean that Bitcoin goes to zero tomorrow, but he is very honest with the presentation of Bitcoin, its potential and its risks.

The more we study it - the more we like the idea behind Bitcoin. The problem is not with Bitcoin - as we have wrote before, we consider it as one of the major developments in the financial industry - the problem is with the speculators driving this Bubble. Will Bitcoin survive its astronomic rise and collapse at some point to become the real alternative Currency? What will happen when 100 top holders will start cashing out? Nobody knows how high speculators can chase the Bubble, but the higher it goes the harder it will get down. For Bitcoin future it will be very important whether it can stabilise now and grow gradually presenting the real Currency alternative, otherwise its crash will expose its weakness - that it was gamed by few as usual - and crowd will chase other 60 crypto-currencies available now.But by that time nobody will be able to call it Gold 2.0 seriously.

We will monitor the situation further, but already now the chart below will be the chart of the year for us here and shows the potential for the real FIAT alternatives like Gold and Silver."

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Dedicated to all those brave men who have been fighting the bear market in 2000 and buying the dips without understanding that they were looking straight into the abyss. Do not trust your money in anybody, for you are the one who is going to be rich or poor, not those that are advising you: always do your DD. Disclosure: We are putting our money where our mouth is.